Economic Assessment of all Financing Options for I-95 to Begin This Summer
June 1st, 2012

The Advisory Council consists of representatives of major industries who have voiced concerns over the potential of utilizing tolling to add nearly 500 miles of new road lanes to I-95. Members represent the N.C. Travel and Tourism Coalition, N.C. Chamber, N.C. Trucking Association, N.C. Retail Merchants Association, N.C. Travel Industry Association, N.C. Farm Bureau and N.C. State University – Agricultural & Resource Economics (economist).

“The people and businesses of North Carolina raised very valid questions during the first stage of our study process,” said Roberto Canales, project manager. “We asked these organizations to help us ask the right questions as we begin this economic assessment process to ensure that the assessment is thorough.”

The Advisory Council met for the first time on May 14 to discuss the process for moving forward. As a first step, council members and NCDOT staff collaborated to draft a Request For Proposals (RFP) to find a firm or team of economic experts who will conduct an economic impact assessment. This assessment will examine what the economic impacts, both positive and negative, would be to adding lanes on I-95 and paying for them with tolling or utilizing other funding that may exist. It will also examine the economic impact of not adding the lanes or making any significant improvements outside what can be funded with existing funding sources.

NCDOT posted the RFP today at http://www.ncdot.gov/doh/preconstruct/highway/roadway/eng_coord/pd/current.html, with a June 29 deadline for proposal submission. Following a review of all proposals, a contract should be awarded in August. The Advisory Council will meet with the firm or team during the process to offer guidance and suggestions. It is anticipated that the assessment will be completed and presented to the public through a series of public meetings in March of 2013.

During these months, NCDOT will focus I-95 study resources on the economic assessment and will not seek to obtain the necessary permits for lane expansions. NCDOT will continue to utilize its limited funds to maintain the existing highway.